OLP CAPITAL MANAGEMENT Ltd

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), OLP CAPITAL MANAGEMENT Ltd reported 7 stock positions worth $790.3 million. Its top holding was Qfin Holdings Inc.-ADR (QFIN) at 36.8% of the portfolio, followed by Atour Lifestyle Holdings-ADR (ATAT, 24.5%) and Full Truck Alliance -SPN ADR (YMM, 21.5%). Compared with Q3 2024, it opened 2 new positions, sold out of 1, added to 2 and reduced 3. The biggest buy was a new position in Joyy Inc.-ADR (JOYY) and the biggest sale Tencent Music Entertainm-ADR (TME, shares −66%).

Most Recent 13F
Q2 2026
Location
CAUSEWAY BAY, K3
CIK
0001738126
Portfolio Value
$790.3M (Q4 2024)
SEC Filing
0001085146-25-001460 ↗ filed Feb 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $623.7M Q1 2024 Q2 2024: $667.9M Q2 2024 Q3 2024: $669.3M Q3 2024 Q4 2024: $790.3M $790.3M Q4 2024 Q1 2025: $770.4M Q1 2025 Q2 2025: $773.4M Q2 2025 Q3 2025: $566.8M Q3 2025 Q4 2025: $513.2M Q4 2025 Q1 2026: $482.4M Q1 2026 Q2 2026: $400.0M Q2 2026

Holdings 7 stocks · $790.3M
QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 36.80% 7,577,023 $290.8M Reduce -0.2%
ATAT Atour Lifestyle Holdings-ADR 24.51% 7,202,395 $193.7M Add +17.1%
YMM Full Truck Alliance -SPN ADR 21.50% 15,705,344 $169.9M Reduce -2.6%
EDU New Oriental Educatio-SP ADR 7.50% 923,306 $59.3M Add +28.7%
JOYY Joyy Inc.-ADR 7.32% 1,382,086 $57.8M New
TME Tencent Music Entertainm-ADR 2.29% 1,595,852 $18.1M Reduce -66.4%
HEPS D-Market Electronic Serv-ADR 0.09% 231,679 $702K New

Portfolio Sells Q3 2024 → Q4 2024
TME Tencent Music Entertainm-ADR Reduce -66.4% 2.29% −6.26
NTES Netease Inc.-ADR Sold out 0.00% −3.96
YMM Full Truck Alliance -SPN ADR Reduce -2.6% 21.50% −0.21
QFIN Qfin Holdings Inc.-ADR Reduce -0.2% 36.80% +2.99

Portfolio Buys Q3 2024 → Q4 2024
JOYY Joyy Inc.-ADR New 7.32% +7.32
ATAT Atour Lifestyle Holdings-ADR Add +17.1% 24.51% +0.67
HEPS D-Market Electronic Serv-ADR New 0.09% +0.09
EDU New Oriental Educatio-SP ADR Add +28.7% 7.50% −0.63

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 6$400.0MATAT, YMM, RLX, HUYA, PSIX
Q1 2026Amended 5$482.4MATAT, YMM, HUYA, RLX, PURR
Q4 2025 3$513.2MATAT, YMM, JOYY
Q3 2025 5$566.8MATAT, QFIN, YMM, JOYY, YALA
Q2 2025 4$773.4MQFIN, ATAT, YMM, JOYY
Q1 2025 4$770.4MQFIN, ATAT, YMM, JOYY
Q4 2024 7$790.3MQFIN, ATAT, YMM, EDU, JOYY
Q3 2024 6$669.3MQFIN, ATAT, YMM, TME, EDU
Q2 2024 5$667.9MPDD, QFIN, NTES, YMM, ATAT
Q1 2024 4$623.7MPDD, QFIN, NTES, ATAT